Setting up of a LLP/Pvt Ltd
Dear Madam/Sir ,
We are group of 3 friends engaged in the business of F&O (Futures & Options ) trading .
As we would like to set up a company , we decided to set up LLP .
However the agency we have hired for the purpose of setting up the LLP has told us to set up Pvt Ltd since as per them LLP's cannot open demat / trading account or cannot engage in the business of derivatives , F&O trading .
Please help me to understand if their understanding is right . Maintaining Pvt Ltd is an expensive affair and we have no plans to either raise external funds or give ESOP's etc.
Please also tell which MCA code will be applicable in case LLP can be set up to do above business.
Asked 13 days ago in Corporate Tax
Thanks Naman , Could you please also tell which MCA code is applicable for LLP for the above kind of business? Is it 65 or 66 or 74 ? I beleive only 1 code can be put , hence kindly advise
Asked 11 days ago